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Posted on Feb 3, 2026
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People are excited as India prepares for the 9th Union Budget by Finance Minister Nirmala Sitharaman on 1 February 2026. India is the fastest-growing major economy, and this budget will establish regulations to promote stable growth and savings going forward. If you are a freelancer, an exporter, or a multinational corporation considering India, the Economic Survey 2025-26 indicates that the budget will revise several tax regulations and introduce additional supportive measures, as well as advance technology.
1. Gig workers and freelancers: safety nets and tax cuts.
Tax Savings and Disposable Income : The Number of Gig economy workers in India has risen by 55 per cent over the past four years, to approximately 12 million. Approximately 40 per cent have incomes below 15000 a month, and thus the government will make an effort to shield them. Independent freelancers might have more after-tax income left over. The new tax regime may increase the standard deduction to 100000, up from the current 75000. That allows individuals to maintain price increments. In addition, they can pay practically no income tax on earnings up to 12.75 lakh owing to available rebates and reductions.
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Another aspect of the budget will be the Experience Economy, the creative and live-show industries that are booming quickly. Concerts and live shows generated more than ₹ 10,000 crore in 2024. The government may establish a single approval system rather than 10 to 15 different permits to assist workers there.
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Employee safety and education: It is planned to increase insurance and assist gig workers via the e-Shram portal. In addition to financial assistance, it aims to provide workers with opportunities to develop new skills and improve their credit, enabling them to acquire higher-paying jobs.
2. Exporters: Coping with headwinds.
Trade wars and political tensions are challenges exporters are facing, but India continues to record record exports of $825.3 billion in FY25.
Duties and rewards: Exporters would like reduced duties and tax breaks to remain competitive. The Federation of Indian Export Organisations (FIEO) desires customs regulations that impose no higher tariff on raw materials than on finished goods, which is detrimental to manufacturers.
Infrastructure in international trade: To reduce prices, it is proposed to build improved shipping routes and promote Indian brands abroad. The budget may increase the allocation by 1015 per cent to a maximum of 12.6 trillion for railway and freight corridors to transport goods at a high rate. Assistance to small exporters, new export credit, and low-interest loans would also help Micro, Small, and Medium Enterprises (MSMEs) expand locally, rather than solely relying on export incentives.
3. Global corporations: the emergence of GCC and stronger links.
India is no longer a service centre; it is a destination for high-value, IP-based work. Global Capability Centres (GCCs) already contribute approximately 68 billion dollars to India's GDP, but this figure is small and may increase to 150-200 billion dollars if they shift to higher-technology activities. The budget is going to favour improved digital and computing tools, particularly AI. Tax certainty and foreign tax credit: one issue is that businesses do not receive any foreign tax credits until they file returns, and in the meantime, money is locked up. The budget can allow companies to take up the credit immediately when it is paid to the TDS. It can also provide a naive estimated tax option for foreign companies in technology, digital trade, and software administration, making India a simpler country to invest in. Another rule that is clear in ESOPs: several companies allow employees to relocate to other countries at the time of vesting. That revenue ought to be taxed as it relates to non-residents, as explained by the new budget.
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4. Fintech and digital payments: the next steps.
India still relies on technology in its economy. New development will not be limited to mere payments to large businesses. UPI and credit: UPI is becoming increasingly popular; the aim is to connect it with credit, enabling businesses to access working capital within seconds. It will also support purchasing and selling across numerous channels, providing clarity on costs. Cryptocurrencies and blockchain: the sector demands reasonable regulations. They are hoping to reduce the 1% tax on digital asset trades to 0.01% to prevent money from leaving the country. They also desire tax regulations that allow them to deduct losses from crypto earnings, as with other investments.
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5. Risks and resilience: a view of a managed disorder.
The future outlook is optimistic, with GDP projected to be between 6.8 and 7.2 in FY27, but the survey cautions about global uncertainty. It puts the probability of a major shock combining financial, technological, and geopolitical issues at 10-20 percent. The government's plan to address risk is called Disciplined Swadeshi.
Conclusion
What to Watch on February 1: Budget 2026 is poised to be a balancing act between providing relief to the middle class and investing heavily in the future. For freelancers, it’s about tax savings and better digital tools. For exporters, it’s about duty relief and global competitiveness. For global businesses, it’s about policy stability and a more streamlined tax environment. As Finance Minister Sitharaman tables the budget, the focus will remain on keeping India "indispensable" in a fragile global order while ensuring that the benefits of growth reach every corner of the economy.
